28/08/2023 16:53

NEXTDC (NXT) $13.26

NXT –2.64%: A mixed result for the data centre operative today with a strong FY23 in the books but they guided lower for FY24 than consensus, initially pushing shares sharply lower, however, an explanation of the miss (investing in capacity) will ultimately have a positive impact on growth in outer years, which caused the stock to rebound. Data services revenue came in at  $362m, up 25% YoY strong relative to $355m consensus and guidance of $350-360m, underlying EBITDA was inline and no dividend was declared, all as per programmed.  They said FY24  underlying EBITDA would be $190-200m versus consensus of $210m, which was the issue, however higher costs will drive better growth in FY24 and beyond.

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17/08/2023 09:12

NEXTDC (NXT) $13.04

Data centre operator NXT is a quality stock that MM has liked for a while but its remained firm of late offering little in the way of risk/reward, we continue to believe it will eventually breakout above $14 but it does often correct ~10% hence we believe patience is the prudent course of action at this stage – NXT reports on the 29th.

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04/08/2023 09:53

NEXTDC (NXT) $12.74

NXT is another quality tech stock that experienced some selling yesterday although a -2% dip is not significant for a stock that’s advanced over +42% so far this year.

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13/07/2023 09:25

NextDC Ltd (NXT) $12.33

NXT is Australia's leading data centre provider, the Brisbane-based company recently raised money at $10.80 to build 2 new data centres in Malaysia and NZ expanding its footprint outs of Australia.

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13/04/2023 10:22

Emerging Companies Portfolio – Amendment

We are taking profit on NXT in the Emerging Companies Portfolio.

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12/04/2023 16:44

NEXTDC (NXT) $12.02

NXT +8.09%: shares in the data centre operator briefly surged to 12-month highs today, closing at its best level in 6 months following a strong utilization update from the company this morning. Contracted utilization is up 43% this calendar year, adding 35.9MW to 120MW on the back of strong contract wins.

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12/04/2023 09:21

NEXTDC (NXT) $11.12

The data centre operator is only second to Sandfire (SFR) as the strongest position in the portfolio this calendar year, up over 22%, currently sitting at a 6-month high. The rally largely follows a better-than-expected result at their half-year earnings, while bond yields topping out have also been supportive given the long-duration exposure (read expected future earnings)

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07/03/2023 09:24

NEXTDC (NXT) $10.49

Data centre operator NXT offers excellent exposure to the ongoing strong demand for cloud storage, in a similar fashion to XRO the stock has been derated since late 2021 but we are fans initially looking for ~20% upside. We can see private equity considering this business although its $4.8bn might prove a huge hurdle in terms of sheer size.  NB: We hold NXT in our Emerging Companies Portfolio. We like NXT around $10.50 with an initial target of $12

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28/02/2023 17:02

NextDC (NXT) $10.27

NXT +2.39%: the data centre operator was out with HY numbers today which look to be tracking well toward FY expectations. Revenue was a small miss, however, EBITDA at $77.5m was ~7% ahead of the market.

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11/11/2022 08:59

Xero (XRO) to NEXTDC (NXT)

XRO fell away over 10% yesterday following disappointing but not disastrous 1H results, we will be watching the stock very closely for any signs of bargain hunting following yesterday’s dip – we are cognisant that tech stocks that missed on earnings have failed to meaningfully recover through 2022.

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